BY THE NUMBERS

CHICAGO—COMMERCIALCafé just published a study that examined the top 100 taxpaying properties across the US to see how some of the most well-known buildings in the nation fare tax-wise. In Illinois, the group found that the iconic Willis Tower is the state's third-most expensive asset in terms of tax value and the nation's second top taxpaying office building. Blackstone, the owner, paid a little over $28 million in taxes alone in 2016. The two buildings with the highest taxes in the state are Exelon's nuclear plant in Byron and ExxonMobil's Joliet refinery. In fact, the Exelon station has the highest tax contribution outside of New York, shelling out $36 million last year. Of the 74 office buildings on COMMERCIALCafé's list, 71 are in Manhattan and three in Chicago – the Willis Tower, 200 and 300 E. Randolph with $19 Million and approximately $16 Million in taxes, respectively.

NEWS & NOTABLES

CHICAGO—Roosevelt University recently appointed Collete English Dixon to executive director of the Marshall Bennett Institute and chair of real estate in the Heller College of Business, effective June 1. She replaces Jon B. DeVries, the institute's founding director, who will retire on June 30 after 15 years of service. English Dixon is a Chicago real estate professional with more than three decades of experience in transactions, finance and joint ventures. Most notably, she served as executive director and vice president of transactions for PGIM Real Estate, formerly known as Prudential Real Estate Investors, where she co-led the national disposition efforts. Previously, she served as vice president of Midwest Region Acquisitions, where she led their investment efforts in seven markets. Among her top investments were the development of 550 W. Washington, Lincoln Center II and III and Marshfield Plaza in Chicago.

BINGHAM FARMS, MI—For the third consecutive year, FOURMIDABLE, has been named to the Affordable 100 List by the National Affordable Housing Management Association. The Bingham Farms, MI—based company saw an increase in the number of units it manages due to the recent acquisition of Low Income Housing Tax Credit development contracts in TN and MS, along with conventional, rural development and public housing contracts in MI, IN, and MD. “Qualifying for NAHMA's Affordable 100 list is an honor that speaks to our company's ability to provide economical housing opportunities while fulfilling our core mission of enhancing the quality of life of our residents through expert property management,” says Jeri Hays, chief executive officer of FOURMIDABLE.

DEALTRACKER

FARMINGTON HILLS, MI—Pogoda Cos. has just signed two new management contracts and brokered the sale of two other self-storage facilities. Five Star Storage, located at 35515 23 Mile Rd., New Baltimore, MI has now been rebranded as a “National Storage Centers”. The other store to join its group of managed stores will operate under its present name, Classic Self Storage, located at 2700 Junction, Detroit, MI. Telegraph Storage in Brownstown Twp., MI and Secure Self Storage in Monroe, MI were sold by Mark Floria, Pogoda's self storage real estate advisor. National Storage Centers – New Baltimore offers 320 units in six buildings with a total of 40,000 square feet of rentable space and 30 RV/Boat spaces. Classic Self Storage is within a historic Albert Kahn designed building offering 673 units and a total of 72,715 rentable square.

BUILDING BLOCKS

ST. LOUIS—The Opus Group and its partner AIG Global Real Estate have just completed Citizen Park, a 217-unit luxury residential and retail development in the historic Central West End neighborhood of St. Louis. Opus officials also say that they secured Orangetheory Fitness as the development's first retail tenant. It will occupy 2,700 square feet of space on the ground floor of the development. “This building truly advances the Central West End in a relevant and modern way,” says Joe Downs, vice president, real estate development, Opus Development Company, LLC. “Thanks to extensive collaboration with community stakeholders from start to finish, we were able to provide a space that fits into the community, while offering a new, upscale living option for community members.” Located at the corner of Lindell Blvd. and Euclid Ave., the 12-story luxury residence was architecturally designed to complement the neighborhood's unique character.

BY THE NUMBERS

NEWS & NOTABLES

DEALTRACKER

BUILDING BLOCKS

Instant Insights /

Middle Market Digest-The Midwest

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